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EXHIBIT 99.1
[NEXTEL INTERNATIONAL LOGO]
For Immediate Release
NEXTEL INTERNATIONAL ANNOUNCES PROPOSED
INITIAL PUBLIC OFFERING
RESTON, Va., August 17, 2000 - Nextel International, Inc., today announced that
it has filed a registration statement with the Securities and Exchange
Commission for a proposed initial public offering of its common stock. Nextel
International also proposes to grant an option to the underwriters to purchase
up to an additional 15% of the offered shares solely to cover over-allotments,
if any. All of the shares are being sold by Nextel International. Goldman, Sachs
& Co. and Morgan Stanley Dean Witter will be the managing underwriters for the
offering.
A registration statement relating to the securities referred to above has been
filed with the Securities and Exchange Commission but has not yet been declared
effective. These securities may not be sold nor may offers to buy be accepted
prior to the time the registration statement becomes effective. This news
release shall not constitute an offer to sell or the solicitation of any offer
to buy these securities in any state in which such offer, solicitation or sale
would be unlawful prior to the registration or qualification under the
securities laws of any such state.
Nextel International, Inc., based in Reston, VA, has wireless operations and
investments in Brazil, Mexico, Argentina, Peru, Chile, the Philippines, Japan
and Canada.
When publicly available, a copy of the prospectus related to the offering may be
obtained from the Prospectus Delivery Department of Goldman, Sachs & Co., 85
Broad Street, New York, NY 10004.
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